Forex Currency - The Euro-EUR

The Euro may still be new on the world stage but has quickly established itself as the second most traded currency in the world. It is second largest reserve currency in the world and utilized in most nations in Europe as official currency. The Euro was introduced to markets all over the world on the 1st of January 1999, with coins and banknotes circulating three years later.

 

The Euro has also seen a lot of countries in Africa and Europe peg their currencies with its relative value, to stabilize their exchange rate. The Euro is a widely trusted and used currency and is common in the forex market. Any currency pair traded with it gets additional liquidity – a defining characteristic of the Euro. Speculators tend to trade with the Euro, to play on the health of the European Union and all its member countries.

 

Political events in the European Union can lead to large trading volumes of the Euro, especially in countries that have seen their local interest rates fall theatrically at its inception. These nations included the likes of Portugal, Spain, Greece, and Italy. The Euro is also the most ‘politicized’ currency that is actively traded in the forex market.

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Did you know?

Did you know the coins and currency-pairs have nicknames? The Euro is nicknamed Fiber. The EUR/GBP pair is called Chunnel, the EUR/JPY pair is called Euppy, the EUR/USD is also called Fiber! The EUR/RUB pair is Betty and the EUR/BTC pair is Nakamoto – named after Satoshi Nakamoto, the inventor of the bitcoin.

See the latest analysis of the EUR pairs

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